Canada
December 19, 2025
Rig count falls in both US and Canada
Written by Ethan Bernard
The US and Canadian rig counts both fell this week, according to the latest Baker Hughes data released on Friday, Dec. 19.
The rig count is significant for the steel industry because it is a leading indicator of demand for oil country tubular goods (OCTG), a key end market for flat-rolled sheet.
The US rig count stood at 542 this week, down six rigs from a week earlier. Oil rigs decreased by eight rigs to 406 rigs. Gas rigs were unchanged at 127. And miscellaneous rigs increased by two to nine rigs.
Compared with a year earlier, the US rig count decreased by 47 rigs from 589 in the corresponding week of 2024. Oil rigs were down 77. Gas rigs were up 25. And miscellaneous rigs increased by five.
The offshore US rig count rose by one from last year to 15.
In Canada, the rig count dropped by seven from the previous week to 185. Oil rigs were down by four to 119. Gas rigs fell by three to 66. And miscellaneous rigs were unchanged at zero.
However, the Canadian count was up 19 rigs from the same week in 2024. Oil rigs were up by nine, gas rigs increased by 10, and miscellaneous rigs were unchanged.
The monthly international rig count has been updated through November. It increased by 14 rigs from the previous month to 1,073. That’s a decrease of 45 rigs from November 2024.
